Innergex completes the acquisition of two wind projects in France

LONGUEUIL, QC, Dec. 22, 2016 /CNW Telbec/ - Innergex Renewable Energy Inc. (TSX: INE) ("Innergex") has completed the previously announced acquisition of two wind power projects from French group BayWa r.e. With a total capacity of 24 MW, the two projects are located in Nouvelle-Aquitaine, France. Innergex will own a 69.55% interest in the project, and the Desjardins Group Pension Plan will own the remaining 30.45%.

About Desjardins Group Pension Plan

The mission of the Desjardins Group Pension Plan, acting through its Retirement Committee, is to provide a defined benefit pension plan to more than 50,000 beneficiaries. With $11.2 billion in net assets under management, it ranks among the top 10 private pension plans in Canada.

About Innergex Renewable Energy Inc.

Innergex Renewable Energy Inc. (TSX: INE) is a leading Canadian independent renewable power producer. Active since 1990, the Corporation develops, owns and operates run-of-river hydroelectric facilities, wind farms and solar photovoltaic farms and carries out its operations in Quebec, Ontario and British Columbia, Canada, in Idaho (USA), and in France. Its portfolio of assets currently consists of: (i) interests in 45 operating facilities with an aggregate net installed capacity of 834 MW (gross 1,383 MW), including 29 hydroelectric facilities, 15 wind farms and one solar farm; (ii) interests in three projects under construction with an aggregate net installed capacity of 146 MW (gross 257 MW), for which power purchase agreements have been secured; and (iii) prospective projects with an aggregate net capacity totaling 3,280 MW (gross 3,530 MW). Innergex Renewable Energy Inc. is rated BBB- by S&P.

The Corporation's strategy for building shareholder value is to develop or acquire high-quality facilities that generate sustainable cash flows and provide an attractive risk-adjusted return on invested capital and to distribute a stable dividend.